The global marketing landscape is undergoing a transformation, and various nations are
embracing innovative strategies at a gradual pace. The COVID-19 pandemic has rapidly altered
the business landscape across the world, but Nigeria’s economic condition remains highly
uncertain. In response to these challenges, Temple, a creative technology platform, organized a
digital marketing conference in Lagos to foster a dialogue on this evolving scenario.
Titled “Navigating Digital Marketing During an Economic Downturn,” the conference gathered
over 150 professionals specializing in digital and growth marketing, as well as tech enthusiasts
and digital technology experts. The event, which took place on May 4, 2022, offered a platform
for these participants to share exclusive insights about marketing during challenging economic
During the event, Molade Orioye, the Head of Business and Strategy at Melange Ltd, emphasized
that every business challenge can be viewed as an opportunity for growth. To achieve success,
business owners must recognize the value of marketing and the 4 Ps of Marketing. In times of
economic recession, it is essential to focus on owned media, which offers a cost-effective way to
reach a larger audience. Investing in quality content and search engine optimization can help
build a robust owned media platform, while keeping in mind that customers are real people with
individual needs. By leveraging digital media’s real-time feedback, businesses can use listening
tools to gain insights into their customers’ preferences and concerns. During the COVID-19
pandemic, food vendors effectively utilized digital marketing to expand their reach when
traditional media was restricted.
Amechi Koldsweat, the Experiential Marketing Lead for Moniepoint INC, also shared insights
during the event. He highlighted the importance of selecting the right influencer for a brand and
its target audience to achieve success in influencer marketing. Koldsweat emphasized that the
influencer and their followers should share a connection, making the product promotion feel like
a recommendation from a trusted friend. This approach increases the reliability and impact of the
marketing campaign on consumer decision-making. Koldsweat further suggested that influencer
strategies such as reviews and tutorials offer a more authentic and trustworthy approach to
promoting a product, which can enhance the effectiveness of the overall marketing campaign.
Kelechi Anyikude, the Growth Marketing Manager for Earnipay, also addressed the audience at
the event. He warned against the temptation to reduce marketing budgets during tough economic
times. Instead, he highlighted research that has shown businesses that increase their marketing
spending can reap significant gains through targeted and value-based marketing campaigns.
Anyikude recommended analyzing past and current metrics, providing meaningful content, and
adopting value-based marketing strategies to achieve success during economic downturns.
Despite the unsettling connotations of the term “market downturn,” Anyikude encouraged
companies to view this as an opportunity for growth. He advised them to be strategic, proactive,
informed, empathetic, and fearless in moving forward.
Chioma Ogbudimkpa, a Start-up Pitch Expert, also shared her perspective at the event. She
highlighted the effectiveness of influencer marketing, particularly among younger audiences,
such as Gen Z. Ogbudimkpa noted that relying on trusted figures to promote products can help
companies reach their target audience more effectively and drive sales. She observed that
influencer marketing is widespread in industries that target young consumers, such as video
games and beauty. The impact of influencer marketing on consumer behaviour can be significant,
as consumers are more likely to trust endorsements from influencers over traditional forms of
In their concluding statement, the organizers of the conference, Temple, expressed their gratitude
to the speakers and participants for their valuable contributions and engaging discussions. They
acknowledged that the insights shared at the event would have a positive impact on post-COVID
digital marketing in Nigeria.